08:32 AM EDT, 03/19/2024 (MT Newswires) -- Crinetics Pharmaceuticals ( CRNX ) said Tuesday a phase 3 trial evaluating paltusotine for treating acromegaly met its primary and secondary endpoints.

Crinetics said that 56% of the trial's participants saw statistically significant adjustments in insulin-like growth factor 1, a hormone linked to growth. The company said all secondary endpoints of the trial also met statistical significance.

The study was generally well-tolerated with serious adverse events, Crinetics said.

Acromegaly is a rare disorder that causes the excessive production of growth hormone, which in turn causes excess secretion of IGF-1, and often results in bone enlargement.

Shares of the company were up nearly 15% in recent Tuesday premarket activity.

Price: 42.93, Change: +5, Percent Change: +13.18